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I think...look at it like a holding company for the subs. Has expenses but the revs are from the subsidiaries...I'll have to take another longer look at it later. I don't think it's a "concern"...FAR LESS so than the other mess...
why is there no revenue-- only expenses--and a loss if they made money??
itsonlymuni, that's not consolidated. The above financial statements are for consolidated.
Principles of Consolidation
The unaudited consolidated condensed financial statements include the accounts of the Company and its wholly-owned subsidiaries after elimination of all significant inter-company accounts and transactions.
no more q---if this gets back to where i started buying ill be in the chips----even at ½ the old valuation its 50cents---lets see how this plays out i am watching every day with guarded optimism-------------
good find--on first look it seems like they are changing their assets from 90m to 12m how they do it and if they can get away with it is the ? tmonkey
not many people were in this one, was only starting to get action eod, should head up tomorrow imo
Now I'm really confused. I went through the 3rd qtr 08 10QSB and when I got to the end there is another set of financial statements that places the BV of the company at about 20 cents, shows zero revenue for 08 and 07 9 month periods, and a net loss for both periods.
I have been following and trading this company for several years and things have never made sense with them. Now they have really outdone themselves. What is the explanation?
My mistake, they are current on all filings. Now the question is, did they pay off Western Securities with cash or with shares?
Since it shows a change back to the original symbol, would one be correct in assuming that they are not yet delinquent on the last 10QSB?
That is a great time to make a move IMO!
new symbol 2morrow, will take days for some brokers for transfer
Tomorrow is 1st Day w/o the "Q"
13:33 1/6/2009 ETLTQ ETLT Eternal Technologies Group, Inc. Common Stock Dismissed from Receivership
http://otcbb.com/asp/dailylist_detail.asp?d=01/05/2009&mkt_ctg=ALL
will be interesting to see how this plays out next few days, do q comes of real quick unlike other symbol changes, which take a few dasy?
yep, I read it... need to dig more...
I got my tickets, gonna take the ride!!!
interesting how "Q" out will reflect the pps... basically it's going to be a brand new security for a few days...
read their website--they did something with e-sea to take it from shareholders----
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6017165
Item 8.01 OTHER EVENTS
The Company’s wholly-owed subsidiary, E-Sea Biomedical Engineering Co. International, Ltd (E-Sea) holds a license from Guangdong Province for the manufacturing of certain medical equipment. Under the terms of the license, E-Sea was required to commence manufacturing on or before December 31 2008, or the license would terminate.
E-Sea filed for an extension with the province which was denied. Therefore, the license with Guangdong Province for the manufacture of certain medical equipment will expire on December 31, 2008.
Because E-Sea still wishes to manufacture certain medical equipment, but after December 31, 2008, it has obtained a similar license from Hunan Province. To fulfill the terms of this license, E-Sea has agreed to develop an “International Medical Equipment Industrial Zone” in Zhuzhou, Hunan Province. Financing for the project has been arranged and E-Sea production department and research and development department will be moving to this new industrial zone in the near future.
nothing...just a ticker change...no longer the stigma of the Q banruptcy notation...although lately that hasn't really mattered! Should be good for the stock though.
In this case, it shouldn't affect the share price...I went in for a little today, probably more tomorrow, or when it loses the Q.
so what happens to the shares?
ETLTQ Dismissed from Receivership (losing the Q):
http://www.otcbb.com/asp/dailylist_detail.asp?d=01/05/2009&mkt_ctg=ALL
happy new years to all on the board--and hopefully a wu-less 2009----do follow my advise in previous post of contacting other china otcbb co,s---this will get rid of wu- tmonkey
even with no agreement the receiver should salvage something-- if they could get rid of wu with all of us other shareholders led by james l.---we could be off to the races-- with wu we will probably see the .000s and yes learned a lesson--
There will never be an agreement IMO. the stock going to be almost worthless, and I don't know what western is trying to do now (their real motives)
if it is too good to be true, 99% of the time it probably is..
I lost a lot of money in this stock and I learn a lot from it..
hope you all will learn something too..
all who have this stock!!! you can help ---i follow alot of other otcbb china stocks---i am emailing ALL OF THEM-on my concerns of THEM AND ALL OF THE OTHER CO,S---that could be labled as scams and run with the money---- this peer pressure on wu will get to him---he laughs at the sec----everybody email concerns to every china otcbb co you can----i only post here so get the message on some other boards thanks we may make out after all----this will work----
Yoh let me know when this rolls out!!
I'm in for the ride on that indo as well!
Hi tmonkey,
if you post your questions on yahoo board you'll get a reponse, not sure if he reads this board.
if joseph jordan reads this board id like to know if etlt can just get rid of assets starting with the medical div.as reported in the last release---is the reciever helpless to save shareholder value????? and will the q be removed soon? thanks-tmonkey
sounds like wu is going to run with all that he can grab
[2008-12-23]
We tasted what is super impudicity when we saw Mr. Jordan’s ANNOUNCEMENT. Mr. Jordan still dreams enrichment depend on extorting from ETLT so far. He and his team have committed themselves to shark up to ETLT for several years. In order to rob ETLT assets, they fabricated two litigations successively, claimed $730K (for now is 961K) and 960K service fee. The management of the company and all shareholders wonder what thus huge service fee pay for? What did you do for the company? What contract or agreement did you sign with the company? Can you list what you did service for the company and let all shareholders to see?
That court made ludicrous judge on thus litigation with visibly extortionate mark. With this kind of flimflam hearing, we believe that Jordan could win the second litigation in the near future. It was just Jordan’s cheeky doing and that super flimflam judge made ETLT non-redemptive loss.
Since ETLT became bankruptcy stock, especially order of enforced to issue all unissued shares to Jordan, it caused indignation of all ETLT staff and all partners. All merged companies of signed Valuation Adjustment Mechanism, screamed for terminate all relationship with ETLT and claim punitive damages because ETLT purchase their good assets with bankruptcy stock. It was over control by directorate and the management of state of affairs expending. It was turning into judicature procedure. The management of the company will process all affairs according to the laws of the local country.
Yes, Jordan needs apology, apologize for all shareholders, and he also needs to repent for GOD, repent his improbity. But he doesn’t need to apologize for ETLT, ETLT doesn’t accept his apology. ETLT is proper his arrogant, robber tone—he want to have a lesson to ETLT.
Since past decade, ETLT staff strived to build a world-class enterprise and paid painstaking effort. We made great splashes due to the most scale embryo transfer in the world at 2000. Since aimed by Jordan, ETLT has been nightmare again and again. Jordan fabricated two litigations without foundation first, extorted, blocked developing of the company and drop shadow to the company. Then, released fake information, denigrated the company, bash market price and sent document to U.S. Consulate in China, disturb formal operation of the company, blocked formal business to the States. Finally, under the ludicrous judge, it is going to crumble to dust of our over ten years painstaking effort and hard working and investment of all shareholders.
Without question, ETLT is loser, because all resplendence and achievement were rob by bandit Jordan, all painstaking effort of ETLT was gone; all shareholders are losers too, because they lost their investment. All of these were caused by Jordan, by his improbity and greed. Only Mr. Jordan is winner, he reached his goal, with help of the ludicrous Court, Jordan put ETLT into his pocket successfully, Jordan, You are the only winner. We execrate you.
When the New Year bell knocking, we are going to mourn for ETLT, weep for painstaking effort in the past ten years, ETLT will be the history then.
BACK >>
When will this happen?
I am hearing 4cent divi and the Q is going to be removed.
not yet, should here something back by the 31st.
Q should be coming off soon. Can't understand why this isn't much higher with the most recent financials.
Whats going on with this company?? I heard that it is going to come out of bankruptcy status???
Still in, just had to work all day. Glad it stayed in this area today.
everybody leave town----under 4 cents must be a steal---if they give the before mentioned dividend you are in for free---you should see where i started buying this-----
Thanks for the info - and they have $.14/share for the 3Q ended 9/30/08. WAY undervalued!!!! Looking forward to watching how all this plays out.
if WS gets their way, a 4c dividend could be on way also.
western has attempted to submit another settlement proposal directly to etlt thru third parties. etlt has represented that if it lost the appeal that it would pay the judgement and has already reserved 1000000 for this liability on the balance sheet.
every effort will be made to reach out to the board of directors to work out an AMICABLE settlement
it should be noted that western has submitted numerous proposals over the last 5 years but all were made to the us counsel.he had no reason to settle as he has collected significant fees during this time,had conflicts of interest and the trial judge said shud be sued by etlt. we believe he was the cause of this in the first place. this now brings up the the question of whether the previous offers were even submitted or explained to the the board since they were relying on his counsel.
if you were offered a way to settle the debt with out paying out funds and your creditor would do all of the work to organize a spin off would you not accept? NO RESPONSE WHATSOVER
-they have been duped and have paid out hundreds of thousand of legal fees on a simple note-he is the only one who has benefited over the last 5 years
we are hopeful that they will obtain a second opinion and that they employ other counsel to consider and resolve all of the litigation. we realize and believe that the misunderstanding over the last year since the judgement was rendered is a result of the attorney and are sorry that this has occurred.
in the 2003 letter from wu that has been posted it was prophetic as it said that he had hoped to speak and seek advice without his conversations BEING FILTERED BY COUNSEL
the receiver has expressed a willingness to advise the court to waive the contempt charges , file the docs for the release from the special receivership, notify the otcbb et al so that the Q WILL BE REMOVED and to return the unissued shares to treasury upon the payment to the trust account of the judgement amount
if this can be resolved western will issue a formal apology to etlt and the bod for the misunderstanding caused by their us counsel.
his refusal to make the proper sec filings on the throughout the litigation over the last 5 years triggered the series of public disclosures by western once the judgement was final and he wanted to play games . they were advised that the judgement had to be properly disclosed to the public shareholders and failed to do after repeated warnings. his actions are shown in hundreds of documents since the judgement and caused us to seek the turnover motion and receiver. even during this time the settlement offers were rebuffed with no response. we are going to seek new discovery against him to determine whether the offer were even presented to the board .during this he has paid out hundreds of thousands in legal fees in 2008 and refused to deliver the document in the discovery request for 2008 figures. western plans to request that etlt and all of the parites who have been misled by vanderkam consider assigning the litigation rights to western to sue their us counsel vanderkam for fraud as suggested by the trial judge
a release is being prepared that will summarize the request to the receiver and the position of western
to try to settle AGAIN that will hopefully NOT BE FILTERED BY COUNSEL
This company had $.14/sh earning for the YE 12/31/07??? Bought in at .035 today, looks like a steal!!
ya people in for a penny get 4 the next day---what is that compounded annualy????? maybe they will be sorry if it takes off---if they are still watching----ill be watching for the whole bunch------------
Boy you can always count on some traders shares about a half hour before close.
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